Author: NBTC
Fungible Bitcoin tokens, released under the BRC-20 standard, are taking a beating five days before the Bitcoin halving and the concurrent launch of the Runes protocol. Four of the top five BRC-20-based tokens by market capitalization—ORDI (ORDI), SATS (SATS), Multibit (MUBI), and Ordiswap (ORDS)—are down over the last seven days. Bitcoin Pups (PUPS) alone is up, rising over 139% for the week, according to CoinGecko. ORDI is trading at $42.67, down 43.4% for the week. SATS is at $0.00000027, down $46.6% for the last seven days. Still riding a wave of interest, meanwhile, the dog-themed meme coin, Bitcoin Pups, surged…
Bithumb, South Korea’s second largest cryptocurrency exchange, announced the launch of the ICP/KRW trading market. The new trading pair will go live on June 12, 2024 at 20:00. Bithumb to Launch ICP/KRW Trading Market Amid Regulatory Changes The move is part of a broader trend among South Korean exchanges to accelerate the listing of new coins in response to upcoming regulatory changes. New cryptocurrency regulations set to come into effect in July have prompted exchanges to expand their offerings and comply with enhanced regulatory standards. The launch of the ICP/KRW trading pair will provide users with more options and facilitate…
The Bitcoin (BTC) price has gained bullish momentum, surpassing the $69,000 mark, after a bearish weekend. BTC is up by 1.3% in the past 24 hours and is trading at $69,080 at the time of writing. The flagship cryptocurrency’s market cap surpassed the $1.35 trillion mark with a daily trading volume of $22.7 billion. BTC price, RSI, active addresses and supply in profit – June 3 | Source: Santiment The bullish momentum comes after a few large investments around the Bitcoin ecosystem. Per a report on June 1, Paradigm helped the Bitcoin staking protocol Babylon raise $70 million. You might…
A few Latin American countries are among the top 20 when it comes to crypto adoption, according to Chainalysis’ “Geography of Cryptocurrency Report.” The report points out that the most popular use cases in the region are international remittances and protection against inflation, the latter being especially seen in Argentina, where inflation surpassed three digits last year. Agustin Liserra, CEO of Argentinian crypto firm Num Finance, explained that Latin Americans need a tool for permissionless worldwide transactions, while also mitigating inflation and currency devaluation. “These are things that people really suffer here in Argentina and in Latin America in general.…
Ethena Labs, the entity behind the USDe synthetic dollar, has released the asset’s first attestation report, which shows the stablecoin remained fully collateralized over the past week despite significant turbulence in the crypto market. The report follows a brief depegging incident during a market-wide downturn during the weekend. Attestation report As of April 15, the current supply of USDe stands at $2.358 billion. The aggregate value of assets, comprising Bitcoin, Ethereum, liquid-staked Ethereum, and Tether’s USDT stablecoin, securing the issued tokens totals $2.365 billion, reflecting an excess reserve of $32.7 million. Three distinct custodians hold these assets. Copper manages $1.279…
At the beginning of June, the new partnership of the crypto exchange BingX for UEFA 2024 will be activated. How the crypto exchange BingX works The partnership Cryptocurrencies and fiat Events and initiatives A global exchange How the crypto exchange BingX works BingX is a crypto exchange that was founded about six years ago, and for about three years it has been undergoing profound renewal. As of today, it claims to have more than 10 million users in more than 100 different countries worldwide. However, it is not just a simple crypto exchange, because in addition to allowing spot and…
Quant analyst PlanB says that Bitcoin (BTC) is entering a phase that has historically coincided with rallies. In a new strategy session, PlanB provides an update on his stock-to-flow (S2F) model, which was traditionally used for traditional commodities before he adapted it to Bitcoin. The S2F model predicts the performance of an asset based on the idea that the price increases as the asset becomes more scarce. Historically, PlanB’s S2F model has signaled the beginning of strong bull runs immediately after the halving with the printing of a red dot. “It’s the first month after the halving, and the start…
Now is the time to cut rates, three Democrat senators said in a letter to the Fed on Monday. The Fed should move away from its 2% inflation target, the letter added. The Federal Reserve (Fed) has kept the interest rate too high for too long and it’s time for a cut, three Democrat senators said Monday in a letter to the central bank’s chairman, Jerome Powell. “We write today to urge the Federal Reserve (the Fed) to cut the federal funds rate from its current, two-decade-high of 5.5 percent. This sustained period of high interest rates is already slowing…
Key Takeaways High-Potential Early-Stage Investment: DePIN is a new concept – an “Airbnb for everything” – with a potentially massive market size (trillions of dollars) across various industries. This presents an opportunity for crypto investors to get in on the ground floor of a potentially disruptive technology. Focus on Underlying Projects: DePIN covers numerous use cases, including data storage, GPU computing, archival storage, decentralized WiFi, and video streaming. Investors should research using our quantitative and qualitative guidelines to understand each company’s potential growth. Consider the Risks: Despite the potential, DePIN tokens are still a cryptocurrency investment and inherently risky. The…
The Decentralized Physical Infrastructure Network (DePin), Aethir, achieved a significant milestone today. At 10:00 UTC, its ATH token was listed on over 16 centralized crypto exchanges. This includes heavyweights like OKX, Gate.io, and Bitfinex. However, top exchanges such as Binance, Coinbase, and Kraken have not yet listed the ATH token. Crypto Analyst Predicts a Fully Diluted Valuation of $3 Billion For ATH Tokens Aethir harnesses decentralized technology to enhance cloud computing efficiency. The ATH token serves multiple purposes within its ecosystem – it acts as a medium of exchange for gas fees, provides governance, supports staking, and sustains the surrounding…